Rumors have been swirling since earlier this month that NYX was about to be bought out by cosmetics giant L'Oréal Paris. Turns, out, the rumors were true as it was announced today that L'Oréal has agreed to buy NYX cosmetics, which will no doubt prove to be quite lucrative for the folks at L'Oréal.

NYX is one of the fastest-growing makeup brands on the market, gaining fans in both regular girls and beauty gurus alike. Its formulas are high-quality and the prices are extremely affordable, comparable to some higher-end brands. The Nude on Nude natural look kit, for example, is a wonderful $12 alternative to Urban Decay's $54 Naked palette.

We'll certainly be watching to see how NYX's product lineup changes under this new deal.

Jihan Forbes spends her days tirelessly writing and her work has been featured on Fashionista, XOJane, The Cut and more. She lives in Harlem, but will always be a Bronx girl. Send her an e-mail sometime.